China Emerges As Second-Largest Bitcoin Mining Hub Despite Ban

This article is from bitcoinmagazine.com and the original article can be read here

New data from Cambridge details a portrait for the global hash rate of bitcoin mining.
The U.S. is solidifying its position as the global leader with 37.84% of the global hash rate.
China surged to almost 22% following the mining ban from last year showing either a rise of covert operations or miners that have remained well-hidden throughout.

The U.S. has risen as the global dominant country housing Bitcoin hash rate while China has picked up pace to trail in second despite its ban from last year, new data from a Cambridge Center for Alternative Finance (CCAF) report shows.

Following the need for underground mining facilities in China after the ban that took place in June of 2021, covert Chinese operations have risen to 21.11% of the global hash rate, returning China to its position as a major mining hub worldwide. Kazakhstan continues to hold a respectable hash rate of 13.22%, while Canada controls 6.48% and Russia produces 4.66%.

From September 2021 to January 2022, CCAF data shows a continued rise in dominance for the U.S. leading 37.84% of the total global hash rate. The largest American hash rate providers are Georgia (30.76%), Texas (11.22%), and Kentucky (10.93%).

The last time CCAF released detailed bitcoin mining data was in October 2021, immediately following the aftermath of the Chinese ban which resulted in a shockingly steep decline in hash rate – bottoming out at 57.47 exahashes per second (EH/s) on June 27, 2021, per the report.

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